Tuesday, January 27, 2009

Today on the Marketbeat: Bullishly bearish?


Market #'s @ Closing Bell:

S&P: +10
DOW: +58
NASDAQ: +17 
RUS2K: +5.56
TSX/S&P:  87
VIX: -3.45 to 42.24


Internals:

Core Sector List: 13/3 to the Bulls

NYSE
BREADTH: 2.4/1
AD LINE: +1000

NASDAQ
BREADTH: 2.2/1 
AD LINE: +680

Today on the Marketbeat: Bullishly bearish?

Today was an interesting market day. First off the Fed began another meeting today and while the rates probably wont be changed, its important to listen to the language that Bernake uses when they release the Fed Meeting Notes tomorrow afternoon. The language they use could be indicative on how the next lil while could be for us Active short term traders. 

Moving on to today's action, the Markets gaped up but quickly filled that gap around the days pivot point. After this fill the market rallied off the pivot and moved past the R1 resistance. However, the R1 did not hold into the afternoon and what it did seem to hold well was the Moving Averages. overall the days sentiment was bullish. Under the hood was a similar story, Breadths closing near there highs around 2/1 to the bulls, the AD Line showed strength  closing up +1000 ticks on the NYSE AD LINE and up +680 ticks on the NASDAQ. Closing out the internals closed the day wit the VIX moving down over 3 points to the downside. 

Some ideas going into Wednesday:

Refineries: HOC / VLO / TSO
EDUCATION: ESI / APOL / CPLA

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